The Global Multicooker Market to grow at a CAGR of 24.85% during the period 2018-2022.

The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One trend affecting this market is integration of smart connectivity in multicookers. Vendors are focusing on development and continuous technological advancements in multicookers. One such trending innovation is the smart connectivity through a wireless connection (such as Wi-Fi and Bluetooth).

According to the report, one driver influencing this market is the product innovation and portfolio extension leading to premiumization. Multifunctional electric cookers (also known as multicookers) with innovative features and functionality are highly priced than regular cookers. Such high-quality multicookers with integrated modern technologies witness high demand from customers and portfolio extension by vendors results in product premiumization.

Further, the report states that one challenge affecting this market is the high existing penetration of traditional cookers in developing countries. Multicookers are largely used in developed countries. However, the penetration in residential areas of some of the developing markets, such as APAC, Eastern Europe, and Latin America continues to be comparative lower than in developed markets.